Problem
PART I: ‘Laws' in the digital economy
i. What is Moore's Law?
ii. Metcalfe's Law?
iii. Reed's Law?
iv. Why is it important for managers and entrepreneurs to understand these laws?
v. Take a digital company of your choice. How any of these laws apply to this company?
PART II: Network effects
i. What are network effects? How many types of network effects exist?
ii. How are they different from other economic laws, particularly traditional ‘economies of scale'?
iii. What are ‘data network effects'? How are they different from traditional ‘network effects'?
iv. Provide examples of businesses with network effects. Explain how they apply to these businesses.
v. Why is understanding ‘network effects' important for managers?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.